Taiwan’s Financial Supervisory Commission (FSC) unveiled updated Anti-Money Laundering (AML) regulations on October 2nd. The main objective is to boost the oversight of local virtual asset service providers (VASPs). Non-compliant entities, on the other hand, will be heavily penalized. The revised regulations will supersede the existing AML framework. Updated AML Regulations Aim to Strengthen Crypto […]
A new survey by ConsenSys and HarrisX reveals that nearly half of U.S. voters (49%) consider a pro-crypto stance important when choosing political candidates. Additionally, 62% are willing to cross party lines for a candidate who supports pro-cryptocurrency policies. Crypto Regulation and Voter Sentiment The study also found that 85% of respondents want presidential candidates […]
Reports have emerged that Japan plans to assess the effectiveness of its cryptocurrency rules. The review, which will take place over the next few months, could pave the way for the launch of crypto exchange-traded funds (ETFs) in the country. Review to Evaluate Investor Protection The news was first reported by Bloomberg, which quoted an […]
Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), believes there have been significant changes in the financial market requiring upgraded definitions of exchanges and alternative trading platforms. During the 10th Annual U.S. Treasury Market Conference on September 26, Gensler highlighted the shifts in the capital markets since the SEC first […]
German authorities have shut down 47 cryptocurrency exchanges operating in the country for allegedly facilitating large-scale money laundering operations for cybercriminals. According to an official statement by the Frankfurt main prosecutor’s office, the German office for combating Internet crime, and the federal criminal police office, these exchanges deliberately allowed their users to bypass Know You […]
The U.S. Securities and Exchange Commission (SEC) has ramped up its enforcement actions against the cryptocurrency sector in 2024, imposing nearly $4.7 billion in fines. This figure represents a 3,018% increase from the $150.3 million in fines issued in 2023. Record Breaking Settlement According to a report from Social Capital Markets, 2024’s figures are largely […]
On Sept. 11, the UK government introduced the “Property (Digital Assets) Bill,” which means that digital holdings, including cryptocurrency, non-fungible tokens (NFTs) such as digital art, and carbon credits, can be considered personal property under the law. “Tech-savvy owners of Bitcoin and other digital assets will benefit from greater legal protection thanks to an important clarification to […]
The U.S. Federal Reserve has issued a cease-and-desist order against United Texas Bank (UTB), one of the few remaining American financial institutions still catering to crypto companies. The central bank cited “significant deficiencies” in its governance, particularly in its adherence to anti-money laundering (AML) laws and risk management tied to virtual currency customers and foreign […]
In a post on X on Sept. 4, the American billionaire businessman said that Bitcoin has been an outsider to the TradFi community over the past five years, and it’s only now “dipping its toe into global finance.” He added that his firm, Cantor Fitzgerald, will help the traditional finance sector onboard Bitcoin as it […]
A London resident has become the first person in the UK to be charged with operating a Bitcoin ATM without proper registration. Habibur Rahman, 37, of Langdon Crescent, East Ham, was arrested on April 28, 2023, following a raid by Kent Police at a gadget shop in Chatham. Medway Trader Faces Charges for Laundering £300,000 […]